Where Is the Affordable Housing?


The recession may be over according to some economists, but it's still in full swing for low-income renters. A typical family needs to earn $18.44 an hour, or nearly $38,360 a year, in order to afford a modest rental home; that's according to a survey by the National Low Income Housing Coalition, a Washington D.C.-based think tank dedicated to increasing home affordability for low-earning Americans,

What if the family is a two-parent household in which both parents hold minimum-wage jobs? They probably won't be able to put a roof over their children's heads unless they happen to live in an exceptionally cheap area.

Unfortunately, even the cheap areas seem to be getting more expensive. While rent fluctuates tremendously depending on where you live, the study reports that 10 states require individuals, on average, to earn more than $20 an hour just to afford a two-bedroom rental.